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CARE Ratings, India's second-largest credit ratings agency, has downgraded financial instruments of one of the country's biggest housing lenders, Dewan Housing Finance, over ongoing concerns over financial mismanagement, Reuters reported May 21.
The Zimbabwean government has raised fuel prices by nearly 50 percent as the country's central bank decided to end the favorable exchange rate for oil companies to spur fuel imports, IOL reported May 21.
At least 50 containers of Afghan goods destined for Indian and Chinese markets have been held up at Iran's Chabahar Port due to U.S. sanctions preventing Afghan and Indian banks from transferring money through the port, The Economic Times reported May 15.
Prime Minister Imran Khan has secured a three-year IMF loan to help relieve Pakistan's dire economic situation. But the conditions tied to the tranche's disbursement risk inviting a political backlash.
Turkey's Finance Ministry is reportedly working on a proposal to transfer 40 billion lira (roughly $6.6 billion) to the government's budget from the central bank's legal reserves, Reuters reported May 13.
The International Monetary Fund (IMF) has preliminarily agreed to provide Pakistan with a $6 billion loan over 39 months to help Islamabad avoid a default amid the country's low foreign exchange reserves and rising current account and fiscal deficits, Dawn reported May 12.
Over the past couple of years, Israel has started growing closer to countries in the Persian Gulf region that once rejected it. But a government interested in abandoning the two-state solution and annexing parts of the West Bank will find its newfound relationships tested.
Argentine President Mauricio Macri has sent his predecessor and political opponent Cristina Fernandez de Kirchner a letter asking for her opinion on 10 "essential" economic and fiscal topics for the country, La Nacion reported May 6.